Of late, I have again been hearing talk that Wall Street is to blame for the woes of the economy. Let me get this right. The center of the world’s financial markets, the very core of the free enterprise system, is the blame for the economic mess that we now face? Really? When the economy is expanding and the markets are moving up into unsustainable bubbles, it seems that everyone is happy with the free enterprise system. As housing prices moved into their bubble tops in 2005, on the back of irresponsible lending and borrowing practices, no one seemed to complain then either. But, when these unsustainable bubbles that were created by the desire to capitalize on the free enterprise system begin to contract, many want to stand back and blame the very same system. It scares me to hear such nonsense because it only serves to prove the ignorance of the masses, our irresponsible society and the evolution of socialist thinking in which we have evolved.
Thanks to BrotherJohnF